Looking at the streets from inside the office looks like freedom and happiness with a bit of stress and challenges. Every time you hear about entrepreneurship and starting a business it is always about how hard it is. Sure it is hard but try to quit your job and go try to be a neurosurgeon, an actuary or a general in the army. It will take time, energy, education, sacrifice and money. Entrepreneurship is not the most difficult career you can ever choose. It has its challenges but can be conquered like any other career. When you are leaving a 9-5 for the streets you are not like a person who is deciding to start a business because they don’t have a choice. Here are a few things that make you unique and the challenges that come with that.
1. Jump to a career similar to or close to what you already do.
Yes, you want a change in your life and career. There are many options out there for you to choose from. Not all of the options available to you are fitting for you. To start a new business is like starting a whole new career, you will need to acquire adequate education before you can apply the skills, then some more time before being proficient in those skills of business to make it profitable. Leaving a 9-5 is a major change on its own that will take adjustment. When you switch to your own company but in the same industry it means you just changed your operating structure but the skills stay the same. You are likely to generate income faster after leaving because you don’t have to learn how to manage a company, learn a new skill and understand and new industry. After making a success in this same field and running your company, you can now try new industries because if you know how to make one company a success from nothing, you can probably make any company in any industry a success. This is why billionaires are in many industries yet they did not qualify for those industries.
2. You can prepare for what you think will happen but not what will happen
The rule of thumb is you have to save up to 6 months’ worth of salary before leaving your job. The idea is that you will be able to live your life as normal while you establish your business over the 6 months. But there are two glaring mistakes with that ‘rule’. The first is that your life will not be normal and the second is that it will probably not take 6 months to set up your company into profitability. Save money yes, every little cent helps, downgrade your life way down to levels you even feel are too much. And they still won’t be what consul possibly happen when you totally run out of income. The fact is you will not know what is coming, the best you can do is prepare what you can and expect anything.
3. Leave the 9-5 mentality of guarantees
It starts in the mind before anywhere else, but I have to make my first two points before this one to introduce you to how different your perception is from what is happening on the other side. You are accustomed to making decisions while at the back of your mind knowing you will get paid at the end of the month, whatever happens. This is not just about money, it is about knowing that every month there is something to look forward to. Even when things are tough, at least pay day s coming, if not for a week but at least a day you will be happy. The streets have no guarantees, you will have to learn one happy in other ways that do not involve the 15th, 20th, 25th or 31st. Anything can happen or not happen for a long period of time in this place.
4. You can’t fix everything with money
Part of the 9-5 guarantee mentality is that money solves everything. If you need something done get someone who can do it and pay them. If you can’t afford something you can get it now and pay later. Most problems always need money to be solved. In the street, you need to learn how to solve problems without throwing money at them. Money buys you convenience and it cuts time where you what to go through faster. In the street, you have to learn how to make things work without having to always pay for them. That is how business people learn to be sharp negotiators. There were times they had no choice but to negotiate.
5. Try the business while you are still employed
Looking at something from a distance can give you that mooi van ver effect. It looks good from a distance but closer it’s far from looking good. It’s like a mirage in the desert, you will waste resources on something that does not exist. If you have never operated a business before rather start it while you are still employed. You have a lot to learn about it before you even go full-on with business. You will experience stresses such as non-payment, supplier mess-ups, customer complaints, long hours and more challenges that are normal to a seasoned business person but hell for a new one.
6. Prepare to lose everything
Yes, you should be optimistic about your business and spend time thinking about all the great things it will bring you. The cars, the clothes and mansions yes it can! But on the other hand, it can take everything away from you even your family. A lot of people were not aware that their romantic relationships are actually tied together by income. Your business can take everything away from you and you more. No! A story of winning against the odds and amidst all the challenges is not guaranteed you can lose everything and be forced to go back to work but fail to get work and you just wither and die of poverty.
7. Make sure you can run the business alone if needed
Stronger than your brain is another person’s convincing you that you should go into business. Promising you insane profits, how easy it is, how fast and how many people they know who will make things happen. After committing to the business all of a sudden they are not motivated anymore. They make excuses, they have life issues and can’t go on with the project anymore. You will be left on a lurch or bakushiye endini. One day you have a partner to help you build this thing and the next everything is now on you. All the work, all the responsibilities and all the debt. Practice running the project alone so that should that kind of unfortunate day comes, you continue as best as you can.
